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What Is a Gift of Equity?

Typically buying a home involves the most significant investment that ordinary people often make in their lives. Homeownership is an expensive dream for anyone with average earnings. On top of that, the real estate market keeps growing each year, making it very difficult for people who barely cover their rents to even think of becoming […]

Types of Housing Loans: Choose the Right One

Types of Housing Loans: Choose The Right One Are you worried about figuring out the best type of mortgage to buy your dream home? If yes, then stick to this post until the very end, and you’ll soon realize that choosing amongst the different types of home loans isn’t that problematic. When you wisely choose […]

Government-Backed Loans

The government backs nearly 70% of the housing loans and 30% of the student loans. The U.S. government offers loans through its different departments and agencies to deserving citizens and businesses. Generally, these benefit people who may not be able to come up with the capital or qualify for a conventional loan. Moreover, these loans […]

Refinancing a Mortgage – Your 2021 Guide

Mortgage refinancing is when you pay off your existing mortgage by obtaining a new loan. With the existing one paid off, the new loan takes its place, which you then pay in monthly installments. But it isn’t as easy as it sounds; Did you know that the costs could be 3-5% of the loan amount, […]

Home Equity Line of Credit vs Loan

Ever heard of the term “House Rich but Cash Poor.” It happens when you have money tied in equity but not in your hands. 1.42 million homeowners with outstanding mortgages have home equity built up on their homes. Accessing your equity can be helpful in times of emergency or even when you are strapped for […]